Earlier this year, Talos Energy and Stone energy went into an all-stock transaction merger. The agreement was effected following the approval and adoption of the deal by most of the Stone Energy Corp. After the fulfillment of all necessary customary closing requirements, the transaction was closed between the two parties.
Following the merger, Stone Energy closes all trades on its common stock at the NYSE (New York Stock Exchange). The two companies will operate under the name of Talos Energy Inc.
Moreover, Talos Energy Inc. takes pride in a deep understanding of geological and geophysical fields; as well as vast industry experience. Additionally, it relies on a highly skilled team of more than 100 regional employees, who are committed towards the success of the firm. Through its expertise in the sector, Talos enjoys an extensive presence in the industry.
Furthermore, Talos Energy Inc. has recently completed transactions on the acquisition of Whistler Energy. The acquisition presents significant benefits to the two companies. Whistler Energy gains the monetary value of about 100 million dollars. Paying a net cash of about 14 million dollars, Talos benefits from an acquisition metric of about 9,333 dollars for every net Boepd. Nevertheless, Talos enjoys the acquired assets including the maximum working interest set in Mexico’s Central Gulf in three blocks. The lease agreement operates under the production segment.
According to the Company’s CEO and President, acquiring Whistler Energy is a great step since the firm matches Talos’s level of producing assets. Talos buys assets with low entry costs, production facilities with untouched capacity and consequently present new opportunities in reputable hydrocarbon-prolific regions.
Based in Houston, Texas, Talos Energy Inc. primarily deals with innovations aimed at the exploration and production in the recovery of valuable resources otherwise deemed unreachable. Such resourceful assets are mainly found in the deep and shallow waters adjacent to the already existing infrastructure in the areas of operation. Its operations mainly serve the utilities and telecommunications industry. The Company seeks to extensively explore, exploit as well as acquire resources in the Gulf of Mexico and the Coastal Gulf areas. It heavily relies on sizable database programs coupled with techniques in proprietary processing to run its operations.